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Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
 It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it be transparent in rising shipping rates and demand to move product across the ocean. But rates have tumbled dramatically in the past two months. A benchmark indicator is the U.S. Gulf to Japan route for a generic 50,000-tonne vessel. In mid-May, rates were US$73/t and dropped to $51/tonne one week ago, now rising slightly to $55/t.
The greatest declines are for the biggest vessels (70,000t tonnes or more), the ones used to carry iron ore and coal from Australia and Brazil to China. Such ships cost about US$48,000 a day in late May; but are now only about $18,000 a day, according to industry participants. China's demand for steel appears to have cooled following the recent price surge during the first half of the year and China's effort to cool property markets by restricting credit.
This doesn't imply the beginning of a permanent downtrend. China's economy may be slowing, but the need for raw ingredients can be expected to continue to rise... just that it comes and goes in waves. Furthermore, supply of ships is increasing. It takes about two to three years for a ship to be built and ready to sail after an order is placed and the freight rate spike of three years ago accelerated orders. During first-half 2010, new vessels are coming into service at a rate of 16 a month, a 23 per cent increase over last year, according to industry sources. However, this is now increasing to 23 a month.
Container rates, meanwhile, are reported to be flat. Freight rates from Vancouver to India have slipped fromUS$70-75/t three months ago to$55-60/t. This has helped edible pea bids. Vancouver to China is about U.S. $35/t, down from three-month ago levels of around $50/t. Cheaper ocean freight is generally considered favourable as it lowers the cost of landed goods. Right now, this feels more like a supply growth push in vessel availability than a collapse in demand.
Source: Resource News International / Hellenic Shipping
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Thursday, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Planning Commission, India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
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